The National Asset Management Agency has said it wants to start providing finance to help kick-start the Irish property market.

NAMA Chairman Frank Daly said the only way to boost the commercial and housing markets was through generating transactions at the prices buyers are currently willing to pay.

Despite a four-year property slump, Mr Daly also said many sellers still retain unreasonable expectations of the prices that can be realised.

Mr Daly was speaking at the launch of the Society of Chartered Surveyors Ireland. The new lobby group was formed from the merger of the Society of Chartered Surveyors and the Irish Auctioneers and Valuers Institute.

He criticised the two bodies for not being more vigilant in drawing attention to the enormous risk to the country from the property bubble.

Mr Daly also warned that the agency would be taking further action against some of the 30 largest developers, who were not engaging properly with NAMA.

NAMA has set a deadline of the end of April for the submission of business plans by the second tier of debtors - some 145 people.

These collectively account for some €34bn of debts.

Mr Daly said that if these borrowers do not meet this end of April deadline, 'we will not indulge them further' and will proceed straight to enforcement.